New Relic, Inc. (NYSE:NEWR) Insider Thomas J. Lloyd Sells 2,251 Shares of Stock

New Relic, Inc. (NYSE:NEWRGet Rating) insider Thomas J. Lloyd sold 2,251 shares of the business’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $55.75, for a total transaction of $125,493.25. Following the completion of the sale, the insider now directly owns 14,709 shares of the company’s stock, valued at approximately $820,026.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

New Relic Trading Up 1.9 %

Shares of NYSE:NEWR opened at $52.29 on Tuesday. The company has a 50 day moving average of $56.74 and a 200-day moving average of $55.72. The firm has a market cap of $3.57 billion, a P/E ratio of -16.04 and a beta of 0.92. New Relic, Inc. has a twelve month low of $41.66 and a twelve month high of $119.71.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NEWR. Canaccord Genuity Group lowered their price objective on shares of New Relic from $81.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, November 9th. StockNews.com raised shares of New Relic from a “hold” rating to a “buy” rating in a research report on Friday, November 11th. Morgan Stanley lowered their price objective on shares of New Relic from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Thursday, October 20th. Robert W. Baird lowered their price objective on shares of New Relic to $75.00 in a research report on Tuesday, November 15th. Finally, Cowen lowered their price objective on shares of New Relic to $63.00 in a research report on Tuesday, November 15th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.58.

Institutional Trading of New Relic

A number of institutional investors have recently made changes to their positions in the stock. Eminence Capital LP lifted its stake in shares of New Relic by 1.9% in the 3rd quarter. Eminence Capital LP now owns 5,684,328 shares of the software maker’s stock worth $326,167,000 after acquiring an additional 105,092 shares during the period. Vanguard Group Inc. lifted its stake in shares of New Relic by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,973,747 shares of the software maker’s stock worth $332,645,000 after acquiring an additional 49,388 shares during the period. Contour Asset Management LLC lifted its stake in shares of New Relic by 11.6% in the 2nd quarter. Contour Asset Management LLC now owns 2,523,634 shares of the software maker’s stock worth $126,308,000 after acquiring an additional 261,372 shares during the period. Clearbridge Investments LLC lifted its stake in shares of New Relic by 0.5% in the 1st quarter. Clearbridge Investments LLC now owns 1,889,144 shares of the software maker’s stock worth $126,346,000 after acquiring an additional 9,341 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of New Relic by 8.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,562,561 shares of the software maker’s stock worth $104,504,000 after acquiring an additional 127,940 shares during the period. 87.21% of the stock is owned by institutional investors and hedge funds.

New Relic Company Profile

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New Relic, Inc, a software-as-a-service company, delivers a software platform for customers to collect telemetry data and derive insights from that data in a unified front-end application. It offers a suite of products on its open and extensible cloud-based platform, which enables users to collect, store, and analyze telemetry data.

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Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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